With Rising Interest Rates and New Competition, the Companies Move Beyond Stalemate

Verizon Communications Inc. and Vodafone Group PLC have rekindled talks about a buyout of the U.K. company's stake in their U.S. wireless joint venture in a deal that would likely cost Verizon well over $100 billion, people familiar with the matter said.

Vodafone confirmed Thursday that it was in talks with Verizon to sell its stake, but said...